ISLAMABAD: Global oil prices have risen further in the international market. U.S. crude oil increased by 0.88%, surpassing $99 per barrel, while British crude oil prices climbed 1.5%, trading at around $104 per barrel.
According to a U.S. newspaper, the oil industry has warned the Trump administration that the energy crisis could worsen.
Oil companies say the possible closure of the Strait of Hormuz could further intensify the crisis, as the strait plays a crucial role in global oil supply and pricing.
Reports also note that the world has largely remained silent following Trump’s appeal for assistance to reopen the strait, and Japan has refused to send its naval vessels to the area.
